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Today in Russian Business – Jan 20, 2012

Mikhail Prokhorov says he ‘know[s] how to fight corruption’.  Various Russian economists agree with the World Trade Organization’s latest summation of the global economy, including a poor outlook for its own growth.  According to a senior WTO official, the U.S. Congress is likely to scrap the Jackson-Vanik law that currently prevents the country from engaging in normal trade relations with Russia.  Mail.ru has launched Futubra, its new microblogging site, similar to Twitter, attracting 17,000 members in its first 24 hours.  Norilsk Nickel plans to raise production by 50% and copper output by 150% over the next 15 years – this program is driving current expansion.  X5 Retail Group, the grocer, has announced falling sales for the fourth quarter, blaming market conditions.